Investing

Earnings Previews: UiPath, Walgreens

The S&P 500 has hit its highest level since January (before the Russia-Ukraine conflict), and markets in general seem to be on the rebound, as peace talks between Russia and Ukraine are ongoing. With the prospect of a resolution to the conflict up in the air, global markets seem to be settling down.

With markets reenergized, analysts have been even more optimistic on where things could go from here. In fact, targets for the broad markets and earnings have been increasing of late, and analysts are calling for upside.

A couple of notable companies are expected to release quarterly results after markets close on Wednesday and before they open on Thursday. Here, 24/7 Wall St. has a close look at what to expect from these reports.

UiPath

UiPath Inc. (NYSE: PATH) is a staple holding of Cathie Wood and her ARK Invest funds, as it is on the cutting edge of robotic process automation software. This company only came public in April 2021, and with less than one year in the books, analysts are calling for positive earnings, despite shares more-than halving since the initial public offering.

The firm is set to report its most recent results after the closing bell on Wednesday. Analysts are calling for earnings per share (EPS) of $0.03 and revenues of $283.57 million. While UiPath has been a story of investor pain over the past year, positive earnings could be the turning point.

UiPath stock posted a small loss in Wednesday’s premarket trading, with shares trading near $31. The stock has a 52-week trading range of $23.93 to $90.00 and a consensus price target of $57.68. The market cap is $16.5 billion.

Walgreens

Walgreens Boots Alliance Inc. (NASDAQ: WBA) is one of the biggest nationwide drug-store retail chains that offers prescription-based services and beauty, personal care and other products. The company operates nearly nine thousand locations under the Walgreens and Duane Reade brands in the United States. The International segment also operates over four thousand locations under similar banners. With such a huge global footprint, Walgreens can expect some big earnings going forward.

Look for Walgreens to report its quarterly results first thing on Thursday. Analysts are calling for $1.39 in EPS on $33.38 billion in revenues. The same period from last year had $1.26 in EPS and $32.78 billion in revenue.

Walgreens stock trended slightly lower on Wednesday morning, just below $48 a share, and it has a consensus price target of $53.43. The market cap is $41 billion, and the 52-week trading range is $43.62 to $57.05.

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